OTHER NEWS - May 15, 1992
From Times Staff and Wire Reports
Two Filipino-Owned Banks Are Merging: California Overseas Bank, an institution whose owners once included the late Philippine dictator Ferdinand E. Marcos, will combine with Century Bank. The two Los Angeles banks are now owned by Philippine National Bank, the largest bank in the Philippines. It recently bought California Overseas Bank for $10 million from the commission set up by the Philippine government to recover money and investments the Marcos family accumulated while in power.
